United Continental Holdings and American Airlines announced they will drop their lawsuit against the City of Chicago now that both parties have reached a deal that gives Chicago the green light for additional expansion at US’ O’Hare International Airport (AP/USA Today/Dow Jones, 14-Mar-2011). The carriers stated the parties reached an agreement on USD1.17 billion worth of airport projects with terms and timing of the remaining USD2.23 billion of work to be negotiated no later than Mar-2013. In Jan-2011 the carriers sought an injunction from a Cook County Circuit Court to stop the city selling USD1 billion of bonds to start the work, citing traffic needed to increase before any work was carried out. United and American control about 85% of the traffic at O’Hare.
15-Mar-2011 10:33 AM